by Calculated Risk on 10/17/2006 02:56:00 PM

DataQuick reports: Bay Area home prices decline, sales slow

Bay Area home prices fell on a year-over-year basis for the first time in more than four years last month. Sales were at their lowest level in five years, a real estate information service reported.

The median price paid for a home in the nine-county Bay Area was $611,000 in September. That was down 1.5 percent from $620,000 for the month before, and down 0.8 percent from $616,000 for September last year, according to DataQuick Information Systems.

Bay Area California Median Home Prices
Area	Sept '04	Sept '05	Sept '06	Pct Change
Alameda	$480K	$579K	$575K	-0.7%
Contra Costa	$463K	$577K	$545K	-5.5%
Marin	$687K	$802K	$813	1.4%
Napa	$522K	$627K	$615K	-1.9%
San Francisco	$669K	$721K	$746K	3.5%
San Mateo	$637K	$752K	$745K	-0.9%
Santa Clara	$543K	$646K	$657K	1.7%
Solano	$394K	$481K	$470K	-2.3%
Sonoma	$466K	$582K	$537K	-7.7%
Bay Area	$516K	$616K	$611K	-0.8%

I added the September 2004 median prices to give a two year perspective on prices.

A total of 7,907 new and resale houses and condos were sold in the region last month. That was down 13.4 percent from 9,128 for August, and down 29.4 percent from 11,205 for September last year, DataQuick reported.

Sales almost always decline from August to September. Last month's sales were the lowest for any September since 2001 when 7,201 homes were sold. September sales have ranged from 5,507 in 1991 to 12,075 in 2004.

Bay Area California Homes Sold
Area	Sept '04	Sept '05	Sept '06	Pct Change
Alameda	2,530	2,300	1,624	-29.4%
Contra Costa	2,339	2,312	1,720	-25.6%
Marin	456	448	273	-39.1%
Napa	224	189	124	-34.4%
San Francisco	689	600	520	-13.3%
San Mateo	997	819	639	-22.0%
Santa Clara	2,865	2,689	1,867	-30.6%
Solano	1,049	1,030	585	-43.2%
Sonoma	926	818	555	-32.2%
Bay Area	12,075	11,205	7,907	-29.4%